Level 1
Financial Base Camp
First things first. Before we invest a dollar, we plug the leaks. I'll walk you through the zero-based budget Amy and I use, how to build an emergency fund that actually stays funded, the debt strategy that kills the highest-interest stuff first, and how we run our finances together as a team. Skip this and nothing else works.
Who this level is for
This level is designed for Day Hikers, people who are building their financial foundation. Whether you're just getting started or need a reset, these fundamentals apply to everyone. No investing experience needed.
Tools & Resources for This Level
Platforms and tools Michael uses and recommends for the topics in this level. These are affiliate links to support our work bringing free, advanced wealth-building education to all.
Monarch Money
The budgeting app I actually use. Clean interface, tracks net worth, joint accounts for couples. 50% off your first year.
Get 50% Off Monarch →
SoFi Bank
High-yield savings, Roth IRA, and brokerage all in one place. Up to a $400 welcome bonus for new accounts.
Open a SoFi Account (Up to $400) →Recommended Reading
Michael's book picks for this level. These are affiliate links to support our work bringing free, advanced wealth-building education to all.
Frequently Asked Questions
Do I really need a budget if I already make good money?+
Yes. High earners without budgets often have less savings than people who earn half as much. A budget isn't about restriction, it's about knowing where every dollar goes so you can put more of them to work.
How much should I have in my emergency fund?+
3-6 months of essential expenses in a high-yield savings account. If you're self-employed or have variable income, lean toward 6 months. Don't invest this money, it needs to be liquid.
Should I pay off debt before I start investing?+
It depends on the interest rate. Pay off anything above 6-7% aggressively. For low-interest debt (mortgage, federal student loans), you can invest simultaneously since your returns will likely exceed the interest cost.
What if my partner and I disagree about money?+
That's completely normal. Start with a money date: a low-pressure conversation about goals, not blame. Set up "fun money" accounts so both partners have guilt-free spending. Alignment on the big picture matters more than agreeing on every purchase.
Which budgeting app does Michael recommend?+
Michael uses Monarch Money for budgeting and net worth tracking. It handles joint accounts well and has a clean interface. But any system you'll actually use, even a spreadsheet, is better than the perfect app you ignore.